“The US Postal Service tripled its losses in 2012, bleeding $15.9 billion as the state-owned enterprise faces tough competition and what it calls onerous and unfair retirement funding requirements. The US mail said its losses rocketed in the year to September 30 from a $5.1 billion loss last year, with more than $11 billion sucked off to pre-fund health benefits for service retirees long into the future. Overall mail volume continued to shrink, by 5.1 percent, and operating revenues fell nearly one percent, to $65.2 billion.”
http://www.rawstory.com/rs/2012/11/15/postal-service-losses-tripled-to-16-billion/
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